According to the Multiple Listing Service (MLS) of the Realtor Association of Martin County and the Martin County public records, the following home sales activity occurred in Palm Cove Golf & Yacht Club for the month ending October 31, 2024.
There are seven (7) homes for sale in Palm Cove, down two (2) from last month. There is one (1) home for rent down (1) from last month. There were four (4) homes for sale during the same period last year.
Two (2) homes are under contract in Palm Cove, unchanged from last month. There were two (2) homes under contract during the same period last year.
Two (2) homes sold in Palm Cove in October compared to one (1) home sale in Palm Cove during the same period last year.
There have been eleven (11) home sales and one (1) rental in Palm Cove year to date as compared to nine (9) home sales and two (2) rentals during the same period last year.
Below is a breakdown of properties by type, the number for sale, and list prices.
SUMMARY:
FOR SALE (7)
2381 SW Carriage Hill Terr #203 - 2,284 sq. ft. - 489,900 - no pool
2385 SW Island Creek Trail - 2,037 sq. ft. - $550,000 - New Wave Realty
736 SW Pebble Lane - 2,045 sq. ft. - $665,000 - no pool
742 SW Palm Cove Drive- 2,216 sq. ft. - $735,000 pool and slip available - New Wave Realty
982 SW Palm Cove Drive - 2,669 sq. ft. - $765,000 slip available
2408 SW Island Creek Trail - 2,750 sq. ft. - $849,500
210 SW Hatteras Court - 3,431 sq. ft. under air - $1,345,000 pool and slip available
FOR RENT (1)
2358 SW Island Creek Trail - 2,750 sq. ft under air - $3,650 per month
PENDING (2)
819 SW Pebble Lane - 2,208 sq. ft. - $719,000 - New Wave Realty
213 SW Palm Cove Drive - 4,597 sq. ft. - $1,495,000 - New Wave Realty
OCTOBER SALES (2)
2440 SW Island Creek Trail - 2,313 sq. ft. - $935,000 - sold $860,000 - New Wave Realty
281 SW Hatteras CT - 4,806 sq. ft. - $1,575,000 - sold $1,500,000 NO SLIP - New Wave Realty
TOTAL SOLD YEAR TO DATE (11) 2440 SW Island Creek Trail - 2,313 sq. ft. - $935,000 New Wave Realty
281 SW Hatteras Court - 4,806 sq. ft. - $1,575,000 slip avail - New Wave Realty
2178 SW Balata Terr - 4,806 sq. ft. u/a - $1,545,000 - sold $1,465,000 - New Wave Realty
772 SW Pebble Ln - 2,222 sq. ft. - $695,000 - sold $710,000 w/slip - New Wave Realty
934 SW Palm Cove Drive - 2,666 sq. ft. $714,000 - sold $710,000 - New Wave Realty
2219 SW Balata Terrace - 5,258 sq. ft. under air - $1,767,000 - sold $1,725,000
2573 SW Bridgeview Terr - 2,676 sq. ft. u/a - list $749,900 - sold $749,900 New Wave Realty
2139 SW Balata Terr- 4,597 sq. ft. - list $1,490,000 - sol $1,395,000
730 SW Palm Cove Dr - 2,045 sq. ft. - $659,900 sold $650,000 - New Wave Realty both sides
2159 SW Balata Ter - 4,597 sq. ft. - $1,495,000 sold $1,430,000 - New Wave Realty both sides
2390 SW Island Creek Tr - 2,750 sq. ft. - $899,900 - sold $845,000 - New Wave Realty
Available Slip Certificates (8) Number Asking Price Survey Length Contact 1-4 $52,000 41.4 SLL (lift) Allen (772) 486-9088
2-2 $45,000 40.9 SLL (lift) Barkhau (352) 408-7164
2-3 $55,000 40.9 FS Faatz (201) 697-3114
4-2 $40,000 35.8 SLL (no lift) Murray (786) 512-7246
5-2 $69,000 49.9 SLL Forsythe (508) 962-4243
5-11 $48,000 50.8 SLL (lift) Hulle (954) 214-7812
6-1 $60,000 44.7 SLL Tannone
Beam Limitation 11.5
6-8 $55,000 44.7 SLL Gierc
Beam Limitation 11.5
For more info, please get in touch with Palm Cove's Marina Manager at [email protected] Closed Home Sales for the month were 155, up from 154 the previous month and up 7.6% from 144 the prior year. Cash Sales for the month were 73 up from 61 the previous month and up 19.7% from 61 the prior year. Median Sale Price for the month was $600,000 up from $577,500 the previous month and up 3.9% from $577,645 the prior year. Average Sale Price for the month was $877,388 up from $720,604, the previous month and up 22.1% from $718,497 the prior year. Median Time to Contract for the month was 59 days up from 48 days the previous month and up 136% from 25 days the prior year. Inventory (Active Listings) for the month was 742 homes, up from 713 homes the previous month and up 61% from 461 listings for the same period last year.
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Dear Friends and Neighbors,
This monthly report is custom-designed to keep you updated on your home's value and sales activity within Palm Cove and throughout Martin County. We hope that you find it useful.
Here's some news you can use:
Primary Mortgage Market Survey
Mortgage Rates Increase for the Fifth Consecutive WeekIncreasing for the fifth consecutive week, mortgage rates reached their highest level since the beginning of August. With several potential inflection points happening over the next week, including the jobs report, the 2024 election, and the Federal Reserve interest rate decision, we can expect mortgage rates to remain volatile. - The 30-year fixed-rate mortgage averaged 6.72%, up 0.18% from the previous week. At this time, a year ago, the 30-year FRM averaged 6.77%.
- The 15-year fixed-rate mortgage averaged 5.99% up 0.28% from the previous week. At this time, a year ago, the 15-year FRM averaged 6.03%.
Although uncertainty will remain, it does appear mortgage rates are cresting, and are not expected to reach the highs seen earlier this year.
***************************************************************************** In closing, our New Wave Realty team would like to thank our Palm Cove friends and neighbors who have shown us nothing but kindness and support over the past 20 years. It has been an incredible honor to assist you with all of your real estate needs.
I wish you and your loved ones a very Happy Thanksgiving! Sara.
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